Applied Materials, Inc. (AMAT - Free Report) was a big mover last session, as the company saw its shares rise nearly 9% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $50.53 to $57.12 in the past one-month time frame.
The upmove came after the company's fiscal fourth-quarter 2019 earnings trumped estimates.
The company has seen one positive estimate revision in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few weeks, suggesting that more solid trading could be ahead for Applied Materials. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
Applied Materials currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.
Investors interested in the Semiconductor Equipment - Wafer Fabrication industry may consider a better-ranked stock like Advanced Energy Industries, Inc. (AEIS - Free Report) , which carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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